Guideline Value for SYNDICATE BANK COLONY 11th STREET

SYNDICATE BANK COLONY 11th STREET guideline value

The current guideline value for SYNDICATE BANK COLONY 11th STREET is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Padi village, under the Villivakkam SRO, and is classified as Residential Special Type - III.

How the guideline value of SYNDICATE BANK COLONY 11th STREET has changed

Starting from the 2007 revision, the guideline value was Rs 2,750 per sq.ft. This increased significantly to Rs 8,000 per sq.ft in 2012, marking a substantial rise of 191%. However, it then decreased to Rs 5,360 per sq.ft in 2017, a drop of 33%. The value further increased to Rs 8,000 per sq.ft in 2023, followed by a rise to Rs 8,700 per sq.ft in 2024, reflecting a change of 9%.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 216%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Padi

In Padi village, there are 354 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 13,200 per sq.ft, with a median value of Rs 3,800 per sq.ft. The guideline value for SYNDICATE BANK COLONY 11th STREET is above this median.

• SYNDICATE BANK COLONY 10th STREET: Rs 8,700 per sq.ft (2024)
• Syndicate Bank Colony: Rs 8,700 per sq.ft (2024)
• Suriya Apartments: Rs 8,200 per sq.ft (2024)
• Sundarar Street (Koil Land): Rs 2,500 per sq.ft (2024)
• Thamarai Kudiyeruppu: Rs 6,600 per sq.ft (2024)
• Thangavel Thottam: Rs 3,400 per sq.ft (2024)

Stamp duty and registration fee for property in SYNDICATE BANK COLONY 11th STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 8,700 per sq.ft, the total guideline value amounts to Rs 87,00,000. The stamp duty at 7% would be Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, bringing the total to Rs 7,83,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers SYNDICATE BANK COLONY 11th STREET?

The Sub Registrar Office covering SYNDICATE BANK COLONY 11th STREET is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

How the guideline value is used when you buy or sell in Padi

The guideline value is a crucial factor in property transactions in Padi, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher.

When a property is sold, the guideline value ensures that the government receives appropriate revenue through stamp duty. It is essential for both parties to be aware of the current guideline value to avoid any disputes during the registration process.

Frequently asked questions

What is the current guideline value of SYNDICATE BANK COLONY 11th STREET?

The current guideline value of SYNDICATE BANK COLONY 11th STREET is Rs 8,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,750 per sq.ft in 2007 to Rs 8,700 per sq.ft in 2024, reflecting a total increase of 216% over the years.

What are the other streets in Padi with similar guideline values?

Other streets in Padi with similar guideline values include SYNDICATE BANK COLONY 10th STREET and Syndicate Bank Colony, both at Rs 8,700 per sq.ft in 2024.

Where is the Sub Registrar Office for SYNDICATE BANK COLONY 11th STREET located?

The Sub Registrar Office for SYNDICATE BANK COLONY 11th STREET is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Padi?

Stamp duty for properties in Padi is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 87,00,000 would incur a stamp duty of Rs 6,09,000 at 7%.